Stock Track | Chongqing Iron & Steel Shares Tumble After Posting Wider Q3 Loss

Stock Track

2024/11/01

Shares of Chongqing Iron & Steel dropped sharply on Friday after the Chinese steelmaker reported a significantly wider loss for the third quarter of 2024 amid falling revenue.

In its latest earnings release, Chongqing Iron & Steel said its attributable loss for the July-September quarter ballooned to 660.5 million yuan ($93 million), compared to a loss of 157.6 million yuan in the same period a year ago. Revenue from operations plunged 39% year-over-year to 5.51 billion yuan.

The dismal results weighed on investor sentiment, sending Chongqing Iron's shares down around 3% in Hong Kong trading and 2% in Shanghai.

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Revenue from operations plunged 39% year-over-year to 5.51 billion yuan.</p>\n\n<p>The dismal results weighed on investor sentiment, sending Chongqing Iron's shares down around 3% in Hong Kong trading and 2% in Shanghai.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01053","symbol_name":"重庆钢铁股份","start_time":0,"source_url":"","article_id":"1101938034","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1101938034","pubTimestamp":1730440495,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Chongqing Iron & Steel dropped sharply on Friday after the Chinese steelmaker reported a significantly wider loss for the third quarter of 2024 amid falling revenue.In its latest earnings release, Chongqing Iron & Steel said its attributable loss for the July-September quarter ballooned to 660.5 million yuan , compared to a loss of 157.6 million yuan in the same period a year ago. 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